Monthly gas check! Stimulus payments may be on the way for those affected by high gas

Some Democrats are pushing for stimulus payments for millions of affected people. Americans are alarmed by the increase in the price of g...

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  • Some Democrats are pushing for stimulus payments for millions of affected people.
  • Americans are alarmed by the increase in the price of gasoline.
  • Could the checks help millions of struggling families?

The price of gasoline throughout the United States has been increasing by leaps and bounds in recent days and millions of people are beginning to feel the financial strain. Some Democratic lawmakers are pushing for stimulus checks for millions of families who are being hit by high gas prices.

At the beginning of March, gas prices all over the United States had reached an all-time high. Now it is reported that the government could be about to establish monthly stimulus payments to lighten the financial impact of the cost of fuel.

Gas prices are skyrocketing across the country

Check comes for gasoline price

As reported by the WSSL FM, families living in the US could be spending up to $2,000 this year on gas alone, according to some estimates. This will be a major burden if high prices continue as they have in recent weeks. The soaring cost of gas is the result of the war between Russia and Ukraine, given the sanctions on Putin’s country and the supply of oil.

Because of this, politicians are working on a relief plan for millions of people. They are Democratic Representatives from California, Connecticut and Illinois — Mike Thompson, John Larson and Lauren Underwood, respectively.

How much would the gas stimulus payments be?

Democrats call for stimulus for Americans

Apparently, Democratic representatives are asking for up to $300 monthly stimulus checks to help millions of families. Qualified Americans would receive the payments as long as fuel costs exceed $4 a gallon.

In a statement issued by Democrat Mike Thompson, he indicates that the stimulus for gasoline would help provide the American middle class with payments that would “alleviate” the financial burden they are experiencing in the midst of the global crisis. According to WSSL FM, the program would be called the ‘Gas Rebate Act’.

What would the guidelines be?

Gasoline price increase

This so-called ‘Gas Rebate Act’, proposed by the Democrats, would provide a check for $100 each month for married couples or single people, plus another additional stimulus of $100 for each of their dependents, as long as the costs of gasoline are on the rise.

Similar to the three stimulus checks that Americans have already received, support would be given to single people who earn less than $75,000 a year and couples whose combined income is less than $150,000 a year.

When would the Gas Rebate Act take effect?

stimulus check for gasoline

This is still just a proposal and the way in which the stimulus check would be paid has not been established. A second proposal by the Democratic representative in California, Ro Khanna and Senator Sheldon Whitehouse of Rhode Island would seek to tax gas companies, whose profits have increased, and use that money to pay for the gasoline stimulus.

This plan is called ‘Big Oil Windfall Profits Tax’, would determine a tax on each barrel to balance the 50 percent difference between the current price of gas and what it was before the pandemic — between 2015 and 2019. They calculate an annual check of $240 for singles and $360 for couples.

Is gas stimulus already a reality?

Gasoline check required?

So far, the issue of the stimulus check for gasoline is merely a proposal, but it is on the table for analysis, while millions of people are struggling to afford fill their tanks throughout the US. Some are evening choosing to drive less, which would also mean a blow to the country’s economy.

Before the inflation that is hitting the US at a historical level, different states have proposed sending refund checks to taxpayers. Kansas, California and Minnesota are some examples, but Republican legislators are pushing back because, as they say, it is not the solution for fixing inflation.

Republican lawmakers propose tax cuts

Check as stimulus

Although the Republican legislators are against a gas stimulus, they propose a permanent tax cut for Americans. However, that is not equal to a plan by the governor of Maine, Janet Mills, who intends to grant $850 to residents of that state.

In Maine, fuel prices have skyrocketed to levels never seen before and she specified that the reimbursement would serve to support the thousands of families who are seeing their finances hit by inflation. Legislators and governors support proposals for suspension or cuts to taxes on sales, properties, among others.

Would states send their own checks to alleviate fuel costs?

Gasoline Altered Democrats

The federal aid provided to several states by the Biden administration has cushioned the blow of inflation, so added to the income from paying taxes, it could mean that the states support their residents with stimulus for the cost of the gasoline.

Experts predict that inflation will cause a further increase in the prices of basic items like groceries, gasoline and other services. Currently the inflation rate for 2022 is up 8 % compared to what was registered in 2021, which is the highest increase since 1982.

The post Gas check! A stimulus would be on the way for those affected by the increase in gas appeared first on Mundo Hispanico.